Adelphia Bondholders Come Up Short Again

Law360, New York (April 4, 2007, 12:00 AM EDT) -- A federal judge has dashed the hopes of Adelphia Communications Corp.’s bondholders, who had been seeking to challenge the cable provider’s reorganization plan in order to score an additional $250 million payout.

On Monday, U.S. District Judge Shira Scheindlin threw out the bondholder appeal, refusing to rule on the merits of the case, in part because the plan had already been “substantially consummated.”

“I conclude that this appeal must be dismissed on equitable mootness grounds,” the opinion read.

The bondholders hold $1.1 billion in Adelphia notes...
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